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TI Automotive LLC named Matthew Paroly chief legal officer and secretary on July 1, the company announced Tuesday.

He replaces Tim Guerriero, retiring after 15 years with the company.

Paroly previously served as senior vice president and chief legal officer for Saginaw-based Nexteer Automotive Corp. He also served as general counsel and vice president for California electric carmaker Fisker Automotive Inc. and chief legal officer for Meridian Automotive Systems.

He earned a bachelor’s degree from the University of Michigan and a law degree from Harvard Law School.

Paroly enters TI Automotive during an anxious period in the Auburn Hills-based supplier’s future.

A deal fell through earlier this year after months of speculation about a potential sale to private-equity buyers, including Bain Capital Partners LLC and Pamplona Capital Management LLC.

Last month, TI’s current hedge fund owners, which include Oaktree Capital Group LLC, leveraged a new $1.25 billion loan that will result in a $435 million payout. The move marks the second time the company has raised debt to pay a dividend to its owners — it secured a $550 million loan in March 2012, Bloomberg reported.